Webster's English Dictionary

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yacht

1. yacht \'ya:t\ n [obs. D yaght, fr. MLG jacht, short for jachtschiff, 
   lit., hu]nting ship : any of various relatively small sailing or 
   mechanically driven ships tha t characteristically have a sharp prow and 
   graceful lines and are ordinarily used for pleasure cruising or racing
2. yacht vi : to race or cruise in a yacht